Domestic Segment Revenue Increased 3.9%
Non-GAAP Diluted EPS from Continuing Operations Increased 17% to $0.49
GAAP Diluted EPS from Continuing Operations Increased 18% to $0.46
MINNEAPOLIS, August 25, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter (“Q2 FY16”) ended August 1, 2015 as compared to the second quarter (“Q2 FY15”) ended August 2, 2014.
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| Q2 FY16 | Q2 FY15 | |
| Enterprise Revenue ($ in millions)1 | $8,528 | $8,459 |
| Domestic segment | $7,878 | $7,585 |
| International segment1 | $650 | $874 |
| Enterprise Comparable Sales % Change: | ||
| Excluding the estimated benefit of installment billing2,3 | 2.7% | (2.2%)4 |
| Estimated benefit of installment billing3 | 1.1% | — |
| Comparable sales % change2 | 3.8% | (2.2%)4 |
| Domestic Comparable Sales % Change: | ||
| Excluding the estimated benefit of installment billing2,3 | 2.7% | (2.0%) |
| Estimated benefit of installment billing3 | 1.1% | — |
| Comparable sales % change2 | 3.8% | (2.0%) |
| Comparable online sales % change2 | 17.0% | 22.0% |
| Q2 FY16 | Q2 FY15 | |
| Operating Income: | ||
| GAAP operating income as a % of revenue | 3.4% | 2.7% |
| Non-GAAP operating income as a % of revenue5 | 3.4% | 2.9% |
| Diluted Earnings per Share (EPS): | ||
| GAAP diluted EPS from continuing operations | $0.46 | $0.39 |
| Impact of cathode ray tube (CRT) settlements6 | ($0.03) | $0.00 |
| Impact of non-restructuring SG&A charges7 | $0.03 | $0.02 |
| Impact of restructuring charges7 | $0.03 | $0.01 |
| Non-GAAP diluted EPS from continuing operations5 | $0.49 | $0.42 |
Hubert Joly, Best Buy chairman and CEO, commented, “We believe these better-than-expected second quarter results are affirmation that our strategy of offering advice, service and convenience at competitive prices is paying off.
